Editor's note: Starting today and continuing through Preakness Saturday, May 15, the Today section will list each day's 1999 Preakness Celebration week events.

Today's Preakness Celebration '99 events:

* Hot Air Balloon Festival -- Two balloon ascensions, the first of five balloon events, are scheduled for 7 a.m. and 5:30 p.m. from Oregon Ridge Park. Free.

* Carrabba's Preakness Pasta Party -- "Carbo-load" for Saturday's 5K race. Hours are 4 p.m. to 10 p.m. at Marriott's Hunt Valley Inn. Cost is $8.

* Miller Lite Party Nites -- The first of the annual street parties on Water Street downtown begins at 5 p.m. with performances by the Inevitables and the Kelly Bell Band. Must be 21 to enter. Cost is $3.

For details on all events, call 410-837-3030.