We consider the problem of finding an ellipsoidal reachable set that bounds the states of time-delayed linear systems with bounded peak disturbances. The considered time-delay is time-varying but it has an upper bound in magnitude and rate. Based on the modified Lyapunov-Krasovskii(L-K) type functional, we derive a delay-dependent result expressed in the form of matrix inequalities containing only one non-convex scalar. The result is extended to uncertain time-delayed linear systems. Finally, we show the usefulness of our result by a comparative numerical example. (C) 2008 Elsevier Ltd. All rights reserved.