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This paper investigates the stability of linear systems with time delay. Both single delay and multiple delay cases are considered respectively. The criteria of stability is derived based on a new type of Lyapunov-Krasovskii functional and is formulated as feasibility problems of Linear Matrix Inequalities. Less conservative stability conditions are obtained through a new delay fractioning approach, and the conservatism can be reduced as the delay fractioning grows. When time-varying norm-bounded uncertainties appear in the delay system, the robust delay-dependent stability condition is also given. Numerical examples are provided to illustrate the effectiveness of our main results.