Exponential estimates and sufficient conditions for the exponential synchronization of complex dynamical networks with bounded time-varying delays are given in terms of linear matrix inequalities (LMIs). A generalized complex networks model involving both neutral delays and retarded ones is presented. The exponential synchronization problem of the complex networks is converted equivalently into the exponential stability problem of a group of uncorrelated delay functional differential equations with mixed time-varying delays. By utilizing the free weighting matrix technique, a less conservative delay-dependent synchronization criterion is derived. An illustrative example is provided to demonstrate the effectiveness of the proposed method.