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This paper is concerned with the problem of fuzzy guaranteed cost control of time-delay system with parametric uncertainties based on T-S model. By making out the singular value of the matrix, the biggest extension of uncertainty is found. Sufficient conditions for the existence of a control law and an upper bound of cost function for the closed-loop system are given in terms of linear matrix inequality (LMI). It is proved that such an optimal fuzzy guaranteed cost control law exists. A procedure is given to select an optimal fuzzy guaranteed cost controller to minimize the upper bound of quadratic performance index.