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The problem of globally exponential stability of static neural networks is investigated. Based on the Lyapunov-Krasovskii functional approach, the free-weighting matrix method, and the Jensen integral inequality, new delay-dependent stability criteria of the unique equilibrium of static neural networks with time-varying delays are presented in terms of linear matrix inequalities (LMIs). The stability criteria can easily be checked by using recently developed algorithms in solving LMIs. A numerical example is given to illustrate the effectiveness and less conservativeness of our proposed method.