<p>The present invention provides a pressure regulating valve which substantially avoids shutoff noises. The pressure regulating valve is designed such that the opening process of the shutoff valve proceeds in two steps. The two-step switching process is made possible by the provision of a seal ring which slides on an activating piston which activates the shutoff valve. This seal ring acts upon a housing mounted detent and an activating piston mounted additional detent, thus creating an automatically acting additional surface area for the activating piston. This design also makes it possible to increase the safety function of the pressure regulating valve, by increasing the pressure medium activated surface area of the valve body for the shutoff valve without incurring higher work forces at the activating piston.</p>