A proportional pressure-regulating valve (10) for actuating a first fluid connection (f1) from a working connection (A) to a tank connection (T) and a second fluid connection (f2) from a supply connection (P) to the working connection (A), includes a regulating piston (14) guided movably in a valve housing (12). The regulating piston opens the first fluid connection (f1) and closes the second fluid connection (f2) when in a first position, and closes the first fluid connection (f1) and opens the second fluid connection (f2) when a second position. The regulating piston (14) can be displaced from a first position into a third position when the first fluid connection (f1) is open by the total differential pressure produced when fluid flows through. When the regulating piston (14) is in the third position, the first fluid connection (f1) is opened with an enlarged opening cross section compared to the first position, and the second fluid connection (f2) remains closed.