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Stabilization of neutral systems with state delay is considered in the presence of uncertainty and input limitations in magnitude. The proposed solution is based on simultaneously characterizing a set of stabilizing controllers and the associated admissible initial conditions through the use of a free weighting matrix approach. From this mathematical characterization, state feedback gains that ensure a large set of admissible initial conditions are calculated by solving an optimization problem with LMI constraints. Some examples are presented to compare the results with previous approaches in the literature.