This paper addresses decentralized exponential stability problem for a class of linear large-scale systems with time-varying delay in interconnection. The time delay is any continuous function belonging to a given interval, but not necessarily differentiable. By constructing a suitable augmented Lyapunov-Krasovskii functional combined with Leibniz-Newton's formula, new delay-dependent sufficient conditions for the existence of decentralized exponential stability are established in terms of LMIs. Numerical examples are given to show the effectiveness of the obtained results.