Global exponential stability problems are investigated for cellular neural networks (CNN) with multiple time-varying delays. Several new criteria in linear matrix inequality form or in algebraic form are presented to ascertain the uniqueness and global exponential stability of the equilibrium point for CNN with multiple time-varying delays and with constant time delays. The proposed method has the advantage of considering the difference of neuronal excitatory and inhibitory effects, which is also computationally efficient as it can be solved numerically using the recently developed interior-point algorithm or be checked using simple algebraic calculation. In addition, the proposed results generalize and improve upon some previous works. Two numerical examples are used to show the effectiveness of the obtained results.