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In this paper, sufficient conditions are provided for the stability of neural networks with two additive time-varying delay components. It is assumed that the delays in the system is time-varying and bounded. A new parameter-dependent Lyapunov-Krasovskii functional is defined to obain stability condition of the considered neural networks using linear matrix inequality (LMI) approach. Finally, a numerical example is presented to illustrate the effectiveness of the proposed method.